The fact that students don't have a lot of money is a fact so well-known that it's become a part of pop culture. The joke is as ubiquitous as it is unfunny: student years are spent eating noodles, amassing debt and trying to get a qualification in the midst of it all.

Before you embark on your studies for this fall, set a few hours aside to think about finance. Even if you take a job, it's unlikely you'll be able to work full-time hours, juggle classes and studying for exams. So rather than just hoping you'll find some way to wing it, prepare yourself by looking at the areas of spending you can cut back on.

The first adjustment should be to your expectations. It's not a fun reality check, but it's a necessary one. You're not going to be able to live to the same standard as you were at home. Premium TV, home cooked meals, and a new outfit every weekend are going to be out of your reach. Look at it like this: the average graduating student debt is $28,000. It's a sum of money so high that it's almost fanciful, like playing with Monopoly money. But it's real, and every cent you borrow will have to be paid back.

There are several areas you can look at to cut costs.

Food

You don't have to live on noodles and nothing else, but you do need to be a savvy shopper. Extreme couponing is great if you have some math skills and the time to spend hunting deals. You can save literally thousands of dollars for a little extra work a week. Also try visiting stores right before they close, when food will be being reduced for the close of business.

PersonalHygiene

Entertainment

The extreme couponing can apply here, too. Deodorant, hair products, and even makeup can be found at discounted prices if you're happy to look for them. If not, you can look for "dupes" of more expensive brands. There's plenty of recommendations online, with people swearing products a third of the price give the same impact.

It's a rare student who can afford a TV package and, depending on your budget, paid streaming services could be a stretch. Instead, go for free options with a ShowBox App Download or tube sites you can browse online. If you use these with friends, you can cut down on the cost of movie trips as well.

School Supplies

Textbooks are notoriously expensive. A study in 2014 found that students can spend up to $1200 per school year just on books and other supplies. Prices have grown by 82% and are set to continue to rise. Buying used, older books is not always possible as new editions are published every few years.

The answer here is to switch to digital editions. You may need to spend on the upfront cost of a reader, but it will be canceled out by up to 53% saved on the purchase price. You can also rent rather than buy textbooks, which is ideal for those only relevant to one part of your course. ​​